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Kelley Blue Book

- W -     Insurance Glossary

Please choose the letter you wish to define:

A     N

B     O

C     P

D     Q

E     R

F     S

G     T

H     U

I     V

J     W

K     X

L     Y

M     Z

• Waiting Period:
  The length of time an employee must wait from a date of employment or application for coverage, to the date his/her insurance is effective.

• Waiver:
  An agreement attached to a insurance policy which exempts from coverage certain disabilities or injuries that otherwise would be covered by the policy.

• Waiver of Premium:
  A provision in some policies to continue premium payments due during a period of continuous total disability that has lasted for a specified length of time.

• Whole Life Insurance:
  A life insurance policy that allows benefits to be payable to a beneficiary at the death of the insured whenever that occurs. Premiums may be payable for a specified number of years (limited payment life) or for life (straight life).

• Will:
  A legal statement of an individual's wishes concerning the disposal of his or her property after death.

• Workers Compensation:
  A system established under state law that provides payments, without regard to fault, to employees injured in the course and scope of their employment.

• Workers' Compensation Insurance:
  Insurance against liability imposed on certain employers to pay benefits and furnish care to employees that are: injured, killed, or are sick due to occupational hazards.

• Written Premiums:
  The total amount of premiums written in a year for all polices issued by an insurance company.

 

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